Pretty good piece on how well the three stack up in customization.  Obviously Home is in beta, so it's a bit unfair to that, but it's still a pretty fun read.

http://www.gamesradar.com/f/all-console-avatar-showdown/a-20081209123154147083

mii's ftw!

Surprised to see the Miis win. I noticed that they picked some of the weaker avatars to try and prove a point.

Some of the ones from Home frightened me...

You know the real question should be which is better;

Apple vs. Banana vs. Orange

??

my honest opinion, i think the nxe avatars take the win. wii looks outdated, home looks too scary LOL.

Funny how the cartoon looking Mii resemble more the character or real life person, is just funny...

Err.. That article is bad, First of all Home avatar's weren't created to resemble animated video game characters, it's more of making it look like yourself rather then a video game character.

What you can do with all of them is still pretty limited. I can't get any of them to actually look like me. lol
I personally like the realistic look of the PS avatars but I tried making me in the Home beta but it didn't look like me at all.

Smashed:
I haven't tried it yet, but I'd say that not having a beard option would severely limit Home's ability to make a character that looks like me.

That said, I think it's generally accepted that it's easier to make a caricature that's easily recognizable.  As such, I'm not surprised that the Mii's won. Despite the simplicty of their design, they can be quite expressive.